Analysts Set Nevro Corp. (NYSE:NVRO) PT at $9.10

Shares of Nevro Corp. (NYSE:NVRO) have been assigned a consensus rating of “Reduce” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $9.10.

NVRO has been the topic of a number of research reports. Piper Sandler lowered their target price on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 price target on shares of Nevro in a report on Tuesday, November 12th. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Finally, Citigroup cut their target price on Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st.

Nevro Stock Up 6.0 %

Shares of NVRO opened at $4.58 on Friday. The company has a market capitalization of $171.61 million, a PE ratio of -2.42 and a beta of 0.93. The stock’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $6.97. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro has a 12 month low of $3.95 and a 12 month high of $22.64.

Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same period in the prior year, the firm earned ($0.65) earnings per share. Nevro’s revenue was down 7.0% on a year-over-year basis. On average, analysts anticipate that Nevro will post -2.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in Nevro by 490.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after acquiring an additional 605,134 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Nevro by 3,446.5% during the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock valued at $1,284,000 after purchasing an additional 148,200 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Nevro by 154.1% during the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after acquiring an additional 146,276 shares in the last quarter. Millennium Management LLC increased its position in shares of Nevro by 21.4% during the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after purchasing an additional 168,573 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Nevro by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after buying an additional 7,004 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.